5. The Chinese government revalues its currency, the yuan, from 7.0215 CNY/$ to 6.7112 CNY/$.
What is the percentage change in the yuan?
6. A foreign exchange dealer is offering the following $/€ bid and ask price quotes: $1.05/€ - $1.12/€.
a) How much money are you left with if you convert $1,000 into euros and back into dollars using
this dealer's quotes?
b) What is the spread?
7. Argentina is going to change its fixed exchange rate from 700 pesos/$ to 1225 pesos/$.
a) Is this devaluation, depreciation, revaluation, or appreciation?
b) What is the percentage change in the Argentinian peso?